Adam Schefter's Underdog Investment Sparks Conflict Concerns
Adam Schefter invested early in Underdog and Boom Entertainment. The ESPN insider stands to profit from Underdog's $2.15B sale to IG Group.
ESPN's Adam Schefter named early investor in $2.15B Underdog Sale...
ESPN’s Adam Schefter is set for a big payday. Underdog confirmed Schefter was one of its early investors, and he stands to benefit from the company’s $2.15 billion sale, alongside several other high-profile names.
As part of the deal with UK trading firm IG Group, $200 million will go to investors. Underdog employees who qualify could also share up to $850 million.
Per an initial report from Front Office Sports, Schefter was among the first group to put $10 million into Underdog. His “small investment” is now set to triple with the $2.15 billion sale.
ESPN declined to comment.
Other notable early investors include NBA star Kevin Durant and Detroit Lions QB Jared Goff.
This isn’t Schefter’s first bet on a gambling company.
Adam Schefter is cashing in on Underdog’s blockbuster sale.
— Front Office Sports (@FOS) July 31, 2026
The ESPN insider was an early investor in the fantasy sports company, which is now being acquired for up to $2.15B.
He previously backed Boom Entertainment in 2021. The digital casino company later bought NBC Sports’ free-to-play Predictor app in 2023.
Schefter has faced heavy criticism in recent years over his reporting, from plugging his own ventures to how he drops breaking news on players and coaches.
Former NFL wide receiver Chad Johnson says it was "fucked up" for ESPN's Adam Schefter to mention Steelers quarterback Dwayne Haskins' playing struggles in a tweet reporting on his death. pic.twitter.com/cj0i2z5FRt
— The Recount (@therecount) April 15, 2022
The Underdog stake raises major conflict-of-interest questions. As the top NFL insider alongside Ian Rapoport, Schefter’s position could allow him to time news releases in ways that benefit the betting market.
No comments:
Leave comment here